The SEC and Texas A&M now have a legal problem. I always questioned the point of Texas A&M's choreographed "we're leaving on our own volition, not getting raided" dance because anyone who has ever been involved in a tortious interference situation would know that the SEC is way over the wall on this issue if the Big 12 ever wanted to press the claim. A&M's best defense was always going to be that there were no damages, so the Big 12 had no claim. In their perfect world, the Big 12 replaced A&M with BYU or someone with no financial impact to the TV deal, and everyone moved along.
Now there are potentially enormous damages for Iowa State, Baylor, Kansas State, Kansas and Missouri. A starting point would be the value of the Big 12 TV deal to each of those schools over the life of the deal, which is probably in the $200 million area, per school. A&M stipulating that they were leaving the Big 12 with or without an SEC invitation would be a minor point, since there is likely hundreds of emails that will paint a very different story in discovery.
It will be interesting to see what the SEC does here. Are they prepared to take on up to a billion dollars in potential legal liability just to add Texas A&M?